This is both good and bad at the same time.
The bad part, or rather sad part, is the fact that there hasn't been any decent bullish action recently. This pair did not grow by any significant amount after its 7-April low.
Ok, what about the good part?
The good part is that prices are low. This pair is "yet to move."
Low prices means a great buy opportunity for what we know comes next.
I know, I know... You might not believe me or your morale might be done but we already had a preview with many pairs growing between 100 and 300%. In less than two months. That's the preview. But the market is big and not the entire market can advance in a single wave. That's why I keep on harping "choose wisely," because sometimes we can end up with the pairs that are not moving in the current wave. They will move, trust, but some will move now and others later down the road.
Ok, good and bad.
The bad part is not that bad but it can be said that it is bad that prices are low. But this is actually good. If prices were high, there would be no buying opportunity, we would have to ignore, dismiss this pair. Since prices are trading low-near support, we can accumulate; buy and hold focused on the long-term.
I mentioned tons of times leveraged trading but all these chart setup can be traded spot. In fact, any setup that is good for leverage is even better for spot because the risk is none.
With spot trading we simply hold. What's the problem? You expected 1,000% growth in 2 months? If that's the case, it simply takes longer and we wait. See? No loss, the worst case scenario is a long-term wait. That's spot trading, buy and hold and you will win in the end.
Leveraged trading is more complex but you know, risk vs reward. You put on lots of risk, huge risk but wow, the rewards potential is awesome. We only approach this tool when we learn the market, when we know what we are doing and we have no need for money; only when money is already plentiful and available.
If you have a need to earn now, "make money fast," and so on; avoid leveraged trading at all costs because it is very likely that you will lose everything rather than achieve success. But, on the other hand, if you are living the good life, you communicate with your wife and you have heart, you are grateful for the food you eat, for the simple stuff, for your house, your friends, your bed; then you can use leveraged trading. Because you will be able to know when to close a position and say "thank you!" rather than double-down on a losing trade.
In short, we need a stable life and mind to use this tool with any success. If our lives and minds are not stable, it is better to start slow. If you cannot make money slow, you will not be able to make money fast. If you cannot appreciate $100, you won't be able to accept $1,000 for a single trade.
So, thanks a lot for your continued support.
I hope you are enjoying the content. It is always my pleasure to write for you, day after day after day.
Remember, it is not about getting it right or getting it wrong, it is all about a mental, emotional and spiritual connection. I am sharing what I learn just so that you can avoid the pain of a major loss, something that I know just too well because I've been there before. I've lost everything countless times and yet, I continue to fight, prosper and grow.
Namaste.